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Printed Electronics Market size is estimated to grow by USD 47.58 billion between 2022 and 2027 accelerating at a Compound annual growth rate (CAGR) of 15% during the forecast period. The growth of the market depends on several factors, including growing demand for flexible displays, rising use of NFC, and increasing demand for printed electronics in automotive and transportation.
Printed electronics is an all-inclusive term for a new category of electronics and components. These components are directly produced on a rigid, stretchable, or flexible substrate. Low-cost coating and printing processes are predominantly used instead of the traditional silicon-based processes to engineer printed electronics. Printed electronics have a wide range of potential applications, including flexible displays, RFID tags, smart labels, and sensors for the Internet of Things (IoT). Additionally, printed electronics can be used to create lightweight, portable, and disposable medical devices and diagnostic tools.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for flexible display is a major driver. OLED displays offer superior image quality and wider viewing angles compared to other available technologies. LCDs and EPD-based flexible displays are also gaining popularity. Curved LCD TVs, such as SAMSUNG's SUHD series, are available in the market. Due to the high cost of large OLED displays, manufacturers are choosing LCD technology instead. Brands like SAMSUNG, Vu Technologies, Panasonic, and Mitashi produce curved LCD TVs. Some vendors are exclusively focusing on EPD displays, like E Ink Holdings and Plastic. The increasing adoption of curved display smartphones and TVs will drive demand for flexible display technology. Emerging applications in automobiles, kiosks, tablets, notebooks, e-readers, and smart glasses will further boost the demand for flexible displays. LG Display, a major vendor with OLED TVs, is also targeting these applications. Overall, the demand for flexible displays is expected to drive market growth and trends.
Emerging stretchable electronics is a significant trend. Stretchable electronics, also known as elastic electronics, involve the construction of electronic circuits that can stretch and deform. These circuits can be placed on stretchable substrates or embedded within stretchable materials like silicones or polyurethanes. The adoption of stretchable electronics is expected to lead to various new applications. These include cyber skin for robotic devices, implantable electronics in a flexible form, stretchable energy storage devices, and blood glucose test strips. The healthcare industry is anticipated to drive the growth of the stretchable electronics market due to the increasing need for real-time monitoring in critical patient care, as well as health tracking in military and sports settings.
Stretchable electronics provide product designers and marketers with opportunities to differentiate their consumer electronic devices and vehicles. Brands and disruptive players are developing new and improved products to gain market share. Examples include stretchable displays, integrated sensor applications with 3D surfaces, stretchable energy storage devices, foldable displays for phones, and wearable technologies. For instance, Panasonic has introduced sensor speakers. The emergence of stretchable electronics is expected to be a significant trend that drives the growth of the market.
The challenge with encapsulation is a major concern hindering the market share. The encapsulation process for flexible OLED displays and light panels is a costly and challenging aspect of their manufacturing. This challenge applies to both flexible and rigid substrates, leading to increased manufacturing costs as production scales up. Companies like SAMSUNG and LG Display, utilizing vapor deposition techniques, face the high cost of curved OLED displays. The same challenge is expected for printed OLED displays, where encapsulation costs will be proportionate to vapor deposition. Initially, glass substrates will be predominantly used for OLED display manufacturing.
Market vendors are actively exploring new substrate materials to address mass production challenges and mitigate high costs. The issue affects the entire value chain of OLED displays and lighting panels, impacting price-sensitive customers and potentially shrinking the customer base. The introduction of curved OLED TVs by SAMSUNG and LG Electronics at higher prices resulted in reduced adoption. SAMSUNG shifted its focus to quantum dot-based LED TVs, withdrawing from large-area OLED display production. In light of these challenges, vendors must prioritize cost reduction in production, particularly by addressing encapsulation costs, to drive market growth. Consequently, encapsulation remains a major hurdle hindering the market during the forecast period.
The market share growth by the screen segment will be significant during the forecast period. The screen printing process has been widely used in the market for many years. It is an established technology for producing high-quality, reliable printed circuits, especially suitable for large-scale and mass production. Screen printing has several advantages over other printing methods such as high throughput, high resolution, and low unit cost. Screen printing can also produce thick, highly conductive traces, making it suitable for high-current applications.
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The screen segment was valued at USD 16.39 billion in 2017 and continued to grow until 2021. Screen printing is a popular technology widely used in the market, especially for applications such as flexible displays, photovoltaics, and touch screens. Therefore, the screen segment is expected to further enhance the performance and versatility of screen printing for the market during the forecast period.
The display market segment comprises various types of printed displays, including OLED displays, EPD, electrochromic displays, and others. Among these, OLED displays, particularly AMOLED, are the dominant category and generate the highest revenue. OLED displays are extensively integrated into smartphones and wearables, including curved displays found in devices like the Samsung Galaxy S8+ and LG Flex 2. Curved displays are also being adopted by many other smartphone manufacturers. The next generation of curved displays is expected to be foldable displays based on OLED technology. Currently, vapor deposition techniques are primarily used for OLED display production, but printing techniques for mass manufacturing are expected to bring significant changes to the market.
Printed electronics also find crucial applications in flexible substrates, packaged LEDs, and hybrid circuits integrated into LCDs, contributing to the growing demand in the display market. Additionally, emerging display technologies like e-paper displays, which enable flexible newspapers and display screens on objects, are expected to drive the growth of the market within the display segment during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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APAC remains the leading revenue contributor in the market, primarily due to the concentration of display and electronics manufacturers in the region. Companies like E-ink Holdings and AU Optronics further enhance APAC's dominance. OLED display vendors in APAC are expanding their capacities and utilizing printing technology for mass production, particularly for smartphones and wearables. This expansion will boost APAC's revenue contribution to the global market. The region also benefits from the increasing adoption of printed electronics products, including photovoltaics, electronic components, logic, and memory.
Vendors are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Schreiner-group- The company offers printed electronics such as printed conductive traces, antennas, heating elements, touch sensors, and sensors.
The market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The Global Printed Electronics Market thrives with diverse applications across various fields, from consumer electronics to IoT devices. Advanced OLED displays and Printed RFID devices exemplify its versatility, balancing production cost with efficiency and low power consumption. Continuous upgrades and improvisations in ink materials and substrate technologies drive research in collaboration with associations and organizations. Key players like Thin Film Electronics ASA and Chinese company CymMetrik lead innovation, utilizing inkjet and screen-printing methods for mass production. Flexible foil substrates like Polyethylene Terephthalate (PET) facilitate the creation of display devices, printed batteries, and photovoltaic devices for renewable energy. These advancements ensure accuracy, authenticity, and reliability while enhancing cost-effectiveness in applications across medical, media, and packaging industries.
The market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Printed Electronics Market Scope |
|
Market Report Coverage |
Details |
Page number |
178 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15% |
Market growth 2023-2027 |
USD 47.58 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.0 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, South Korea, Japan, China, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agfa Gevaert NV, BASF SE, DuPont de Nemours Inc., Dycotec Materials Ltd., Enfucell, Fujikura Co. Ltd., Henkel AG and Co. KGaA, InnovationLab GmbH, Jabil Inc., Koch Industries Inc., Nissha Co. Ltd., NovaCentrix, Optomec Inc., Printed Electronics Ltd., Samsung Electronics Co. Ltd., Schreiner Group GmbH and Co. KG, TE Connectivity Ltd., Xerox Holdings Corp., YFY Inc., and Ynvisible Interactive Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market growth and forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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